Section 162 Land and buildings transaction tax: 6 month penalty for failure to make returnI1

(1)

P is liable to a penalty under this section if (and only if) P's failure continues after the end of the period of 6 months beginning with the penalty date.

(2)

The penalty under this section is the greater of—

(a)

5% of any liability to tax which would have been shown in the return in question, and

(b)

£300.

Annotations

Commencement

I1: S. 162 in force at 1.4.2015 by S.S.I. 2015/110, art. 2(1)